In This Story
American International Group, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing total revenues of $6,751 million, compared to $7,267 million in the same quarter the previous year. The decrease is attributed to lower premiums and net realized losses.
Net income for the quarter was $457 million, down from $2,747 million in the previous year. After preferred dividends, net income attributable to common shareholders was $459 million, compared to $2,020 million in the previous year.
Total assets as of September 30, 2024, were $169,449 million, down from $539,306 million at the end of 2023, primarily due to the deconsolidation of Corebridge Financial, Inc.
Cash provided by operating activities was $3,252 million, while cash used in investing and financing activities was $981 million and $2,059 million, respectively.
AIG's loss reserves at the end of the quarter were $71,066 million, with prior year loss reserve development recorded as unfavorable.
The filing details AIG's amended and restated credit agreement, providing a five-year total commitment of $3.0 billion.
AIG announced the sale of its global personal travel insurance business to Zurich Insurance Group, expected to close by the end of 2024.
The company continues to focus on managing its insurance operations and investment portfolio amid challenging market conditions.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the American International Group Inc. quarterly 10-Q report dated November 7, 2024. To report an error, please email earnings@qz.com.